Hodge Lifetime launched the very first equity release schemes in 1965 and have continued to earn a reputation for security and reliability since then. Hodge Lifetime is a subsidiary of Julian Hodge Bank and is a founder member of SHIP. (Now Equity Release Council)

The Hodge Lump Sum Lifetime Mortgage allows you to take a single cash lump sum with the advantage of a fixed interest rate for duration of the plan term.

Plans now start at age 60 with a minimum property value of £100,000 and a £20,000 minimum initial withdrawal limit.
The plan has been made available in England, Wales & also mainland Scotland.

Hodge Lifetime provides a unique 'Flexible Repayment Option'. This allows repayment of 10% of the initial loan amount each year without penalty.

Hodge have also differentiated two sets of early repayment charges - repayment on moving house & repayment if not moving house:-

1. On moving house within 5 years, Hodge Lifetime have a reducing penalty system of 5%, down to 1% over the same term. This could be advantageous if you are looking to move short term & happy to pay a 'fixed' penalty.
The other 'Downsizing Protection' feature allows you to repay the Hodge Equity Release Plan with NO penalty if you move house after 5 years.

2. Early repayment whilst remaining in your property will attract different penalties. For the first 5 years this will be on a 5,4,3,2,1 basis. Additionally, there is also a potential variable repayment charge dependent upon the movement in 25 year interest rate swap rates.

The Hodge Lump Sum Lifetime Mortgage would be an excellent alternative if you wish to repay the interest & want control over when this is repaid.